Naim Holdings Bhd (5073) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Naim Holdings Bhd MYR 0.98, price MYR 0.88, upside +11.4%, quality 44 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 0.4500 MYR – 1.63 MYR · fair‑value band 0.7400 MYR – 1.17 MYR · the 0.8800 MYR price screens below the 0.9800 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Naim Holdings Berhad, an investment holding company, engages in the property development and construction businesses in Malaysia. It operates through three segments: Property Development, Construction, and Others. The Property Development segment develops and constructs residential and commercial properties, as well as sells vacant land.
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Naim Holdings Berhad, an investment holding company, engages in the property development and construction businesses in Malaysia. It operates through three segments: Property Development, Construction, and Others. The Property Development segment develops and constructs residential and commercial properties, as well as sells vacant land. The Construction segment constructs buildings, roads, bridges, and other infrastructure and engineering works, such as oil and gas related construction projects. The Others segment is involved in the trading of buildings and construction materials; provision of sand extraction and land filling services; property investment and management activities; and hotel, education, and quarry operations. It also enagegs in the construction of bridges, and dams; flood mitigation-related projects; government camps and complexes; mass rapid transits; museums/galleries; residential, commercial, and industrial properties; recreational facilities; resettlement schemes; roads and highways; education establishments; transmission lines; and water pipelines business. In addition, the company operates as a civil, building, and earthworks contractor; and provides property management services. Further, the company involved in the trading of construction materials, as well as in the provision of management services. Naim Holdings Berhad was incorporated in 1993 and is headquartered in Kuching, Malaysia.
Stock analysis
Naim Holdings Bhd (5073) currently trades at 0.8800 MYR, while our model-based Fair Value estimate is 0.9800 MYR, implying the stock looks roughly 10.2% undervalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 2.10 MYR per share, and 6 of the 9 models we run sit above the 0.8800 MYR price.
Bear case: the Earnings-Based group reads lowest at 0.4800 MYR, and 3 of the 9 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.7400 MYR (bear) to 1.17 MYR (bull), the price of 0.8800 MYR sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 44/100 (below-average quality), in the Industrials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Naim Holdings Bhd reported revenue of 197M MYR in FY2025 versus 422M MYR in FY2021, a compound −17.4%/yr. Reported net income was 28.4M MYR in FY2025.
Key figures
Market cap 441M MYR (≈ $108M) · P/E ratio 14.7 · P/S ratio 2.12 · EPS (TTM) 0.0600 MYR · Net margin 14.4% · Return on equity 1.9% · Return on assets (EBIT) 2.1% · Operating margin −12.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades at its 52-week high and 42% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −31% fair-value upside, at 11%, 5073 screens cheaper than that median.
Fair Value models
Bear 0.7400 MYRFair Value 0.9800 MYRBull 1.17 MYR
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.0441 MYR per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.19/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−60.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−18.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−19.7%
Start year 2020 (pandemic). Over 10 years: −10.5% a year
Revenue growth 13 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−6.8%
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What shareholders gained per year (last 5 years), in MYR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in MYR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−12.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−12.4%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−12% vs 34%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.18% → −1%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 13.9%/yr over ~7Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Engineering & Construction · 840 stocks
Beats the industry median on 7/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score44 · Below median
Fair Value upside+11% · Above median
Profitability
Return on equity (TTM)2% · Below median
Return on assets0% · Bottom 25%
Net margin (TTM)16% · Top 25%
Operating margin (TTM)−12% · Bottom 25%
Growth and dividend
Revenue growth3% · Above median
Balance sheet
Debt / equity0.01× · Lowest 25%
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Naim Holdings Bhd Fair Value". https://www.fairvalue-calculator.com/stock/5073
Frequently asked questions
Is Naim Holdings Bhd (5073) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 0.9800 MYR versus a price of 0.8800 MYR, about +11% upside (undervalued).
What is the fair value of 5073?
Our model-based fair value for Naim Holdings Bhd is 0.9800 MYR (as of Sep 24, 2026), built from audited fundamentals. The current price: 0.8800 MYR.
What is the quality score of 5073?
Naim Holdings Bhd has a Quality Score of 44/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Naim Holdings Bhd (5073)?
Our model-based price target is the fair value of 0.9800 MYR (as of Sep 24, 2026) from 9 valuation models. Cautious scenario 0.7400 MYR, optimistic scenario 1.17 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the Naim Holdings Bhd stock forecast for 2026?
Our models put fair value at 0.9800 MYR, about +11% upside versus a price of 0.8800 MYR (undervalued). Cautious scenario 0.7400 MYR, optimistic scenario 1.17 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of Naim Holdings Bhd (5073)?
Naim Holdings Bhd reported trailing-twelve-month revenue of about 198M MYR (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Naim Holdings Bhd (5073)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Naim Holdings Bhd it is 0.9800 MYR per share (as of Sep 24, 2026), against a price of 0.8800 MYR. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is Naim Holdings Bhd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 5073 trades below its calculated fair value: price 0.8800 MYR, fair value 0.9800 MYR, a gap of about +11% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 5073?
No. The price is what the market pays today (0.8800 MYR); the fair value is what the company's own numbers justify (0.9800 MYR). For Naim Holdings Bhd the two are 0.1000 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is Naim Holdings Bhd worth?
The market values Naim Holdings Bhd at about 441M MYR (market capitalisation, as of Sep 24, 2026). Per share that is 0.8800 MYR; our models calculate a fair value of 0.9800 MYR per share.
What do the bullish and bearish scenarios say about 5073?
Our models span a range for Naim Holdings Bhd: cautious scenario 0.7400 MYR, base 0.9800 MYR, optimistic 1.17 MYR per share (as of Sep 24, 2026, price 0.8800 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 5073?
Naim Holdings Bhd trades at a price-to-earnings ratio of 14.7 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 0.9800 MYR is built from several models across several years. Other multiples: P/B 0.1, P/S 0.5.
How solid is the balance sheet of Naim Holdings Bhd (5073)?
Balance-sheet figures for Naim Holdings Bhd (as of Sep 24, 2026): return on equity 1.9%, debt of 0.01 per unit of equity. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is 5073 from its 52-week high?
Naim Holdings Bhd trades at 0.8800 MYR, at its 52-week high of 0.8800 MYR and 42% above the low of 0.6200 MYR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 0.9800 MYR is for.
Which stocks are comparable to Naim Holdings Bhd?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Naim Holdings Bhd stock attractive at the current price?
The data as of Sep 24, 2026: price 0.8800 MYR, calculated fair value 0.9800 MYR (+11%), Quality Score 44/100, from 9 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 5073 calculated?
We run Naim Holdings Bhd through 9 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 0.9800 MYR, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.0 % above its aggregate fair value. Naim Holdings Bhd currently trades 11 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Naim Holdings Bhd (5073)?
The closing price on Sep 24, 2026 was 0.8800 MYR. Our model-based fair value is 0.9800 MYR, about +11% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Naim Holdings Bhd right now?
Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of Naim Holdings Bhd
How large is the market capitalisation of Naim Holdings Bhd (5073)?
The market capitalisation of Naim Holdings Bhd is 441M MYR (≈ $108M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Naim Holdings Bhd (5073)?
The price-to-sales ratio of Naim Holdings Bhd is 2.12 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Naim Holdings Bhd (5073)?
Earnings per share at Naim Holdings Bhd are 0.0600 MYR (price ÷ EPS = P/E 14.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Naim Holdings Bhd (5073)?
The net margin of Naim Holdings Bhd is 14.4% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Naim Holdings Bhd (5073)?
The return on equity (ROE) of Naim Holdings Bhd is 1.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Naim Holdings Bhd (5073)?
On an EBIT basis the return on assets of Naim Holdings Bhd is 2.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Naim Holdings Bhd (5073)?
The operating margin of Naim Holdings Bhd is −12.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Naim Holdings Bhd (5073)?
Revenue at Naim Holdings Bhd is growing +3.4% versus a year earlier (3y avg −18.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Naim Holdings Bhd (5073)?
Earnings per share at Naim Holdings Bhd are growing −85.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Naim Holdings Bhd (5073) generate?
The free cash flow of Naim Holdings Bhd is −45.5M MYR (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Naim Holdings Bhd (5073) carry?
The net debt of Naim Holdings Bhd is 1.8M MYR (fiscal year 2021). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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